Calendar Year

1988 in US Banking

1,745 bank events are on record for 1988: 232 failures, 1,275 mergers or acquisitions involving a bank, credit union or bank holding company, and 0 enforcement actions.

232

Failures

$48.36B in failed assets

1,275

Mergers

Federal Reserve NIC, banking organizations

0

Enforcement

OCC, FDIC, FRB, OTS and SEC 8-K filings

238

Assistance

FDIC open-bank assistance

Jump to: Bank failures 1988 · Bank mergers 1988

How many banks failed in 1988?

232 banks failed in 1988, with $48.36B in assets. Each failure below links to its own page.

Date	Bank	HQ	Assets	Acquirer or resolution
Sep 15, 1988	River City Bank	Castle Hills, TX	$15.1M	Citizens STB of Luling
Sep 15, 1988	Citizens Bank of Littleton	Littleton, CO	$6.4M	Equitable BK of Littleto
Sep 8, 1988	The Sylvia State Bank	Sylvia, KS	$5.9M	Turon State Bank
Sep 1, 1988	American Bank of Muskogee	Muskogee, OK	$28.6M	Citizens NB&T of Muskoge
Sep 1, 1988	Commercial State Bank	San Augustine, TX	$25.6M	Hamilton National Bank
Sep 1, 1988	Pioneer National Bank	Arlington, TX	$20.3M	Deposit Guaranty Bank
Sep 1, 1988	Mingo Trust & Savings Bank	Mingo, IA	$12.1M	Exchange State Bank
Sep 1, 1988	Pisgah Savings Bank	Pisgah, IA	$9.7M	Iowa Savings Bank
Sep 1, 1988	First National Bank of Atascocita	Harris County, TX	$9.4M	First Interstate BK of T
Sep 1, 1988	Lakeland State Bank	Camden County, MO	$9.3M	Community Bank of the Oz
Aug 31, 1988	Frontier Savings & Loan	Ponca City, OK	$1.03B	Commercial Fed BK a FSB
Aug 31, 1988	Phoenix FS&LA	Muskogee, OK	$419.4M	Cimarron FS&LA
Aug 31, 1988	Home Savings Bank, F.A.	Lawton, OK	$264.1M	Red River FS&LA
Aug 31, 1988	Home S&LA	Bartlesville, OK	$173.5M	Cimarron FS&LA
Aug 31, 1988	Kingfisher FS&LA	Kingfisher, OK	$124.4M	Chisholm
Aug 31, 1988	First FS&LA	Elk City, OK	$106.7M	Red River FS&LA
Aug 31, 1988	Heritage S&LA	Elk City, OK	$80.8M	Red River
Aug 31, 1988	Peoples FS&LA	Ardmore, OK	$49.9M	Red River FS&LA
Aug 26, 1988	Biwabik State Bank	Biwabik, MN	$3.2M	First National Bank
Aug 25, 1988	Bank of the Mid-South	Bossier City, LA	$41.8M	Red River Valley Bank
Aug 25, 1988	Highland Park National Bank	Dallas, TX	$26.3M	Deposit Guaranty Bank
Aug 25, 1988	Bancfirst-Westlake, N.A.	Austin, TX	$15.0M	Union National Bank of T
Aug 19, 1988	Sunbelt Savings Association of Texas	Dallas, TX	$2.21B	Sunbelt Savings FSB
Aug 19, 1988	First City Savings Association	Irving, TX	$227.0M	Sunbelt Savings FSB
Aug 19, 1988	Multibanc Savings Association	Dallas, TX	$190.7M	Sunbelt Savings FSB
Aug 19, 1988	Federated S&LA	San Antonio, TX	$150.1M	Sunbelt Savings FSB
Aug 19, 1988	Texana S&LA	Texarkana, TX	$78.1M	Sunbelt Savings FSB
Aug 19, 1988	Marshall County Bank	Britton, SD	$10.7M	First National Bank
Aug 18, 1988	Town & Country National Bank	Harlingen, TX	$29.6M	Harlingen National Bank
Aug 18, 1988	First National Bank Austin	Austin, TX	$26.0M	First State Bank
Aug 18, 1988	Citizens State Bank	Maud, OK	$11.1M	Bank National Assn
Aug 11, 1988	First Bank	Balch Springs, TX	$46.2M	Gateway National Bank
Aug 11, 1988	West Houston National Bank	Houston, TX	$26.4M	Texas Commerce Bank N.A.
Aug 11, 1988	Galena Park State Bank	Galena Park, TX	$24.8M	Lockwood NB of Houston
Aug 4, 1988	Farmers & Merchants Bank of Elmo	Elmo, MO	$9.2M	First Bank of Maryville
Aug 3, 1988	Alaska Continental Bank	Anchorage, AK	$51.5M	First Interstate Bank of
Aug 2, 1988	First Republicbank Delaware	Newark, DE	$582.4M	Citibank Delaware
Jul 29, 1988	First Republicbank-Dallas, N.A.	Dallas, TX	$17.09B	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Houston, N.A.	Houston, TX	$2.71B	NCNB Texas National Bank
Jul 29, 1988	First REPUBLICBANK-FT. Worth, N.A.	Ft. Worth, TX	$1.96B	NCNB Texas National Bank
Jul 29, 1988	First Republicbank- Austin, N.A.	Austin, TX	$1.69B	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-San Antonio	San Antonio, TX	$797.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Waco, N.A.	Waco, TX	$716.3M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Midland, N.A.	Midland, TX	$659.4M	NCNB Texas National Bank
Jul 29, 1988	National Bank of FT. Sam Houston	Ft. Sam Houston, TX	$634.8M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Tyler, N.A.	Tyler, TX	$610.4M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Lubbock, N.A.	Lubbuck, TX	$528.1M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Wichita Falls	Wichita Falls, TX	$304.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Galveston, N.A.	Galveston, TX	$257.2M	NCNB Texas National Bank
Jul 29, 1988	First Republicbank-Jefferson County	Beaumont, TX	$240.7M	NCNB Texas National Bank

Which banks merged in 1988?

1,275 mergers or acquisitions involving a bank, credit union or bank holding company are on record for 1988.

See the fuller list: Bank mergers 1988 with largest deals and credit union mergers ›

Date	Acquired	St	Acquirer
Oct 1, 1988	U. S. Steel Vandergrift Federal Credit Union	PA	Kennametal Employees Federal Credit Union
Oct 1, 1988	First National Bank-South	TX	First National Bank of Huntsville
Oct 1, 1988	MKT San Antonio Credit Union	TX	Generations Community Federal Credit Union
Oct 1, 1988	Jasco Empl Cu	TX	Resource One Credit Union
Oct 1, 1988	First Wyoming Bank - Wright	WY	Key Bank of Wyoming - Seventh and Douglas Highway, Gillette, Wyoming 827
Oct 1, 1988	Rcac Federal Credit Union	CA	Patelco Credit Union
Oct 1, 1988	Star Bank, Gallipolis	OH	Star Bank, National Association, Tri State
Oct 1, 1988	Crocker Employees Federal Credit Union	CA	Monterra Credit Union
Oct 1, 1988	U.S. Postal Service Federal Credit Union	CA	U S Postal Service Federal Credit Union
Oct 1, 1988	State Bank and Trust Company	GA	FLAG Bank
Oct 1, 1988	Metropolitan Medical Center Credit Union	MN	Associated Healthcare Credit Union
Oct 1, 1988	Peoria Graphic Arts Credit Union	IL	Citizens Equity First Credit Union
Oct 1, 1988	(unnamed)	—	Premier Bank - Acadiana, National Association
Oct 1, 1988	Calhoun-Gordon County Educational Credit Union	GA	LGE Community Credit Union
Oct 1, 1988	First Bank of Troy	ID	KeyBank National Association
Oct 1, 1988	Durr-Fillauer Cu	AL	Americas First Federal Credit Union
Oct 1, 1988	Bergner Associates Credit Union	IL	Citizens Equity First Credit Union
Oct 1, 1988	Key Bank of Long Island	NY	Key Bank of Southeastern New York National Association
Oct 1, 1988	Citizens Federal Savings and Loan Association of Newcastle	IN	Ameriana Bank
Oct 1, 1988	Dassel State Bank	MN	Marquette Bank Hutchinson, National Association
Oct 1, 1988	Saint Patrick Parish Credit Union	IL	Redbrand Credit Union
Oct 1, 1988	First Wyoming Bank - Meeteetse	WY	Key Bank of Wyoming - 1130 Sheridan Avenue, Cody, Wyoming 82414
Oct 1, 1988	Sun Company Employees Credit Union	CA	1st Valley Credit Union
Oct 1, 1988	United Savings and Loan Association of Central Indiana	IN	First American Bank
Oct 1, 1988	(unnamed)	—	Bank One, Louisiana, National Association
Oct 1, 1988	Uscs Employees Federal Credit Union	NJ	Philadelphia Federal Credit Union
Oct 1, 1988	The State National Bank of New Iberia	LA	Premier Bank - Acadiana, National Association
Oct 1, 1988	USTrust/Essex	MA	USTrust
Oct 1, 1988	Mispoco Empl Cu	MS	Powerco Federal Credit Union
Oct 1, 1988	FRY's Employees Federal Credit Union	AZ	Sunwest Federal Credit Union
Oct 1, 1988	Health Care Credit Union	WA	Rainier Pacific Savings Bank
Oct 1, 1988	Murfreesboro Veterans Administration Federal Credit Union	TN	Ascend Federal Credit Union
Oct 1, 1988	Michigan Bank - Mid South	MI	Republic Bank
Oct 1, 1988	I.B. Mortgage Network, Inc.	CA	Imperial Bank
Oct 1, 1988	Gae Members Cu	GA	Pinnacle Credit Union
Oct 1, 1988	IB&T Corporation	ID	Key Bancshares of Idaho, Inc.
Oct 1, 1988	Professional Financial Services Credit Union	IA	Financial Plus Credit Union
Oct 1, 1988	Amalgamated Associates Company	IL	Amalgamated Investments Company
Oct 1, 1988	First Bancorp of Mascoutah, Ltd.	IL	First Bancorp of Mascoutah, Ltd.
Oct 1, 1988	Modoc County Grangers Credit Union	CA	Sierra Central Credit Union
Oct 1, 1988	Saint Louis De France Federal Credit Union	MA	St. Anne's Credit Union
Oct 1, 1988	(unnamed)	—	Norwest Bank Cedar Rapids, National Association
Oct 1, 1988	First Federal Savings Bank	SC	South Carolina Federal Savings Bank
Oct 1, 1988	Phillips 66 Employees Credit Union	MO	Arsenal Credit Union
Oct 1, 1988	Torrey Pines Federal Credit Union	CA	San Diego County Credit Union
Oct 1, 1988	Bedford County Bank	TN	First American Bank, Murfreesboro
Oct 1, 1988	Heritage Federal Savings Bank	IN	Railroadmen's Federal Savings and Loan Association of Indianapolis
Oct 1, 1988	Moores Employees Federal Credit Union	VA	Tremont Credit Union
Oct 1, 1988	Metro District #1 Federal Credit Union	CO	Canvas Credit Union
Sep 30, 1988	First City Bank of Northline	TX	First City, Texas - Houston, N.A.

The list holds 500 of the 1,275 mergers recorded for 1988.

FDIC Open-Bank Assistance in 1988

Date	Institution	HQ	Assets
Dec 16, 1988	United SB of Wyoming	Cheynne, WY	$220.5M
Dec 16, 1988	First Dearborn	Dearborn, MI	$167.3M
Dec 15, 1988	American Home Savings	Salem, OR	$403.0M
Dec 15, 1988	Community First Fed Savings	Vancouver, WA	$386.0M
Dec 15, 1988	Rooks County FSA	Plainville, KS	$32.0M
Dec 14, 1988	Eastern Washington S&LA	Wenatchee, WA	$51.5M
Dec 12, 1988	Midamerica SB	Waterloo, IA	$244.3M
Dec 1, 1988	Cardinal FSB	Cleveland, OH	$1.47B
Dec 1, 1988	First FS&LA	Columbus, GA	$265.7M
Dec 1, 1988	Northpark Savings Association	Richardson, TX	$126.6M
Dec 1, 1988	United FS&LA	Aberdeen, SD	$92.5M
Nov 18, 1988	Tesoro S&LA	Laredo, TX	$248.1M
Nov 16, 1988	Alliance Bank, N.A.	Oklahoma City, OK	$8.9M
Nov 2, 1988	Reliance FS&LA	Rahway, NJ	$64.3M
Nov 1, 1988	Lincoln FS&LA	Westfield, NJ	$1.25B
Nov 1, 1988	Southside S&L	Lima, OH	$54.1M
Oct 25, 1988	Peoples FSB	Wooster, OH	$341.1M
Oct 14, 1988	Olney Savings Association	Olney, TX	$1.34B
Oct 14, 1988	Banc Home Savings Association	Midland, TX	$603.4M
Oct 14, 1988	Security FS&LA	Pampa, TX	$396.0M
Oct 14, 1988	Heart O Texas Savings Association	Midland, TX	$269.5M
Oct 14, 1988	First FS&LA	Amarillo, TX	$214.1M
Oct 14, 1988	Southern S&LA	Brownwood, TX	$154.8M
Oct 14, 1988	Southwest S&LA	Abilene, TX	$154.3M
Oct 14, 1988	Odessa Savings Association	Odessa, TX	$132.1M
Oct 14, 1988	San Angelo Savings Association	San Angelo, TX	$124.5M
Oct 14, 1988	Petroplex Savings Association	Midland, TX	$113.9M
Oct 14, 1988	Shamrock Federal Savings Bank	Shamrock, TX	$102.3M
Oct 12, 1988	First FSB of Indiana	Merrillville, IN	$271.5M
Oct 12, 1988	First FS&LA of Mayfield	Mayfield, KY	$51.5M
Oct 12, 1988	Capital FS&LA	Gary, IN	$51.4M
Sep 30, 1988	Guaranty FS&LA	Dallas, TX	$1.96B
Sep 30, 1988	First FS&LA	Austin, TX	$1.01B
Sep 30, 1988	Creditbanc Savings Association	Austin, TX	$593.1M
Sep 30, 1988	Franklin Savings Association	Austin, TX	$410.9M
Sep 30, 1988	Delta Savings Association of Texas	Alvin, TX	$202.6M
Sep 30, 1988	Great West Savings Bank	Austin, TX	$179.9M
Sep 30, 1988	Citizens FS&LA of New Castle	New Castle, IN	$51.9M
Sep 30, 1988	Adobe Savings Bank	Concord, CA	$48.1M
Sep 23, 1988	Champion Savings Association	Houston, TX	$656.7M
Sep 21, 1988	Loves Park FSB	Loves Park, IL	$40.8M
Sep 16, 1988	Guaranty National Bank	Austin, TX	$21.1M
Sep 9, 1988	Bay City FS&LA	Bay City, TX	$157.9M
Sep 9, 1988	Gulf Coast Savings Association	Richmond, TX	$59.9M
Sep 7, 1988	American S&LA	Stockton, CA	$30.16B
Sep 7, 1988	First Federal SB	Rogers, AR	$122.9M
Sep 6, 1988	Coosa FS&LA	Gadsden, AL	$72.1M
Sep 1, 1988	Arsenal Sa	Indianapolis, IN	$158.3M
Sep 1, 1988	Citizens FS&LA	Jacksonville, FL	$57.9M
Sep 1, 1988	United Sa of Central Indiana	Tipton, IN	$57.3M

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